Northern Trust Corp Cuts Stock Holdings in Republic Services, Inc. $RSG

Key Points

• Northern Trust Corp reduced its stake in Republic Services by 1.3%, selling 30,775 shares and now holding approximately 2.4 million shares valued at $580 million.
• Several hedge funds have adjusted their positions in Republic Services, with Vanguard Group increasing its holdings by 0.9% during the first quarter, now owning 18.76 million shares worth approximately $4.54 billion.
• Republic Services recently declared an increase in its quarterly dividend, now $0.625, reflecting an annualized increase to $2.50 per share with a yield of 1.1%.

Northern Trust Corp cut its holdings in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,395,440 shares of the business services provider's stock after selling 30,775 shares during the period. Northern Trust Corp owned about 0.77% of Republic Services worth $580,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RSG. Golden State Wealth Management LLC lifted its stake in Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc lifted its stake in Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after purchasing an additional 99 shares during the last quarter. TCTC Holdings LLC lifted its stake in Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Elequin Capital LP bought a new stake in Republic Services during the first quarter worth $30,000. Finally, Park Square Financial Group LLC bought a new position in shares of Republic Services in the 4th quarter valued at $44,000. 57.73% of the stock is currently owned by institutional investors.

Insider Transactions at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the purchase, the insider owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. National Bank Financial upgraded Republic Services to a "hold" rating in a research note on Monday, May 26th. Raymond James Financial increased their price target on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Morgan Stanley raised their target price on Republic Services from $230.00 to $245.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Oppenheimer raised their target price on Republic Services from $262.00 to $268.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 target price for the company in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $262.17.

Republic Services Stock Performance

Shares of Republic Services stock traded down $1.3090 during mid-day trading on Friday, hitting $234.1310. 1,183,937 shares of the stock were exchanged, compared to its average volume of 1,292,595. Republic Services, Inc. has a 12 month low of $197.60 and a 12 month high of $258.75. The company has a 50-day simple moving average of $240.45 and a 200 day simple moving average of $240.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $73.10 billion, a P/E ratio of 34.63, a P/E/G ratio of 3.68 and a beta of 0.60.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. Republic Services's revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. Sell-side analysts anticipate that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a dividend of $0.625 per share. This is a positive change from Republic Services's previous quarterly dividend of $0.58. This represents a $2.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, October 2nd. Republic Services's dividend payout ratio is 34.32%.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.